By Ben Schiller
THE LOST OPPORTUNITY OF BLACK WOMEN FOUNDERS
Black women are the most educated group in the nation, and black women are the highest percentage of any group enrolled in college, as per the 2011 U.S. Census Bureau. The U.S. Department of Labor reports that 60% of black women are active in the labor market, but are grossly underpaid (Black Women’s Equal Pay Day is on August 1 this year).
They are also the fastest-growing group of entrepreneurs in the country. According to data from the Institute for Women’s Policy Research, there was a 265% increase in black women-owned business between 1997 and 2014, outpacing growth among all women-owned firms, which grew in revenues by 72% during the same time period. Black women are responsible for over 1.5 million businesses and generating over $44 billion a year in revenue, while being responsible for the livelihood of roughly 400,000 workers.